Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data for.
Speaker 1: That second look now at some stocks on the move
Speaker 1: today in Europe. I'm Stephen Carroll and I'm joined by
Speaker 1: Bloomberg reporter Chloe Melee. Chloe, good morning. So a new
Speaker 1: year boost for the minor Fresnello assign perhaps of things
Speaker 1: to come for the forty one hundred, finally making it
Speaker 1: over briefly that ten thousand handle.
Speaker 3: Yeah, absolutely, So the fifty one hundred, as you mentioned,
Speaker 3: reached that bill big kind of milestone in Fresno was
Speaker 3: at the center of that. So the fifty one hundred
Speaker 3: trading above one thousand points for the first time ever
Speaker 3: and having its best here since two thousand and nine,
Speaker 3: A lot of that was thanks to the mining sector.
Speaker 3: The fifty one hundred is very kind of heavily weighted
Speaker 3: towards that industry, and it was a really good industry
Speaker 3: to be in in twenty twenty five, and it will
Speaker 3: be a good industry to be in in twenty twenty six.
Speaker 3: Because the prices of precious metals are jumping quite importantly,
Speaker 3: quite massively. A lot of that ad has to do
Speaker 3: with investors in central banks kind of rushing to save
Speaker 3: havens during times of a little bit more geopolitical turbulence,
Speaker 3: and then also falling interest rates in the US making
Speaker 3: those commodities quite attractive. And so we've seen silver and
Speaker 3: gold reaching several record highs over the year twenty twenty five,
Speaker 3: and of course that's great for companies like Presnio, which
Speaker 3: operates as gold and silver mines, and the company was
Speaker 3: the standout in the fifty one hundred last year with
Speaker 3: gains of four hundred and forty nine percent, so that's
Speaker 3: really really impressive, and that is the best performed by
Speaker 3: a really wide margin. The second best was actually another
Speaker 3: minor Pan African Resources, with gains of just two hundred
Speaker 3: and fifty nine percent, So that really shows how crucial
Speaker 3: that mining sector has been to the performance of the
Speaker 3: fifty one hundred this year, well no last year. And
Speaker 3: then there's also that no sign of that is really stopping.
Speaker 3: In twenty twenty six. We have seen gold and silver
Speaker 3: starting the year really strongly, and the factors that are
Speaker 3: leading to that boost are still there, so we'll have
Speaker 3: to see how much further FRESD of you can go.
Speaker 1: Yeah, indeed shows up two point six percent this morning.
Speaker 1: But as you say, pretty hard perhaps to beat the
Speaker 1: games they saw last year. Let's turn to Orsted next
Speaker 1: filing a legal complaint against US President Donald Trump's wind
Speaker 1: farm suspension.
Speaker 3: Yeah, there was. It's up this morning, All said on
Speaker 3: the back of that, and perhaps indicating that investors are
Speaker 3: happy that also is kind of pushing back against the
Speaker 3: Trump administration. The company said that the decision to suspend
Speaker 3: the lease of a wind project that was very close
Speaker 3: to being completed a violates applicable law, and so also
Speaker 3: it is calling for the suspension to be lifted until
Speaker 3: there's a final verdict from the court. At the project,
Speaker 3: which is called Revolution Wind, has been targeted a couple
Speaker 3: of times by the trub administration. Recently over the summer,
Speaker 3: we had a stop work order and then a judge
Speaker 3: ruled that construction could actually resume. And now that there's
Speaker 3: this least suspension. So that's kind of another setback there.
Speaker 3: But it means that All Said will probably be dealing
Speaker 3: with a lot more challenges from the US after all
Speaker 3: the attacks from last year from the Trump administration, which
Speaker 3: really weighed on those shares. But there are some games today. Perhaps,
Speaker 3: as they said on the fact that all said is
Speaker 3: a pushing back against those decisions by the Trump administration.
Speaker 1: Okay, I know, I said shares. Yeah, as you were
Speaker 1: saying four percent this morning, that's turned to British American
Speaker 1: tobacco next shares are in the red there. What's driving that, Well, the.
Speaker 3: Ideas is taking a hit because of its stake in ITC,
Speaker 3: which is the largest make of cigarettes in India, and
Speaker 3: that company is taking a big hit because of a
Speaker 3: new excise duty to try and limit the smoking rate in India.
Speaker 3: We've got two hundred and fifty million people smoking in India.
Speaker 3: That's the second highest population globally. So for the health
Speaker 3: of that population, of those taxes will probably be good,
Speaker 3: but for ITC not to not too exciting because we're
Speaker 3: talking about our tax hike of over thirty percent if
Speaker 3: we include other charges on cigarettes that are about to
Speaker 3: be imposed as well. So that's a tax burden that's
Speaker 3: much higher than anticipated. And ITC gets over forty percent
Speaker 3: of its revenue from cigarette so this is a new
Speaker 3: text that could mean a big hit on volumes of
Speaker 3: big hit on earnings. This is something that has triggered
Speaker 3: the fifty fifteen percent cut in earning special estimates for
Speaker 3: twenty twenty seven and twenty twenty eight, so that's really
Speaker 3: not negligible, and we're seeing investors and analysts start to
Speaker 3: think about the impact for that company. And BAT has
Speaker 3: a stake of about about twenty three percent in ITC
Speaker 3: is the largest shareholder, so it's very vulnerable to whatever
Speaker 3: happens to that company, and we're seeing that weakness today.
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